This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Omega Announces Fourth Quarter 2011 Financial Results; Adjusted FFO Of $0.50 Per Share For The Fourth Quarter; And $334 Million Of New Investments

The $28.4 million of FFO for the three months ended December 31, 2010 includes the impact of approximately $16.0 million in interest refinancing expense, $0.5 million of stock-based compensation expense, a $149 thousand net loss associated with owned and operated assets and $64 thousand of costs associated with 2010 acquisitions. The $16.0 million of interest refinancing costs related to the write-off of deferred financing costs and prepayment costs associated with the repayment of a $100 million term loan and the tender and redemption of all of the Company’s outstanding $310 million 7% Senior Notes due 2014.

Adjusted FFO was $51.3 million, or $0.50 per common share, for the three months ended December 31, 2011, compared to $45.1 million, or $0.46 per common share, for the same period in 2010. The Company had 4.5 million additional weighted-average shares for the three months ended December 31, 2011 compared to the same period in 2010. For further information see “Funds From Operations” below.

2011 ANNUAL RESULTS

Operating Revenues and Expenses – Operating revenues for the twelve-month period ended December 31, 2011 were $292.2 million. Operating expenses for the twelve-month period ended December 31, 2011, excluding nursing home expenses for owned and operated assets, totaled $153.8 million and were composed of $100.3 million of depreciation and amortization expense, $26.3 million of provision for impairments on real estate assets, $13.4 million of general and administrative expense, $6.4 million of provision for uncollectible accounts and notes receivable, $6.0 million of stock-based compensation expense and $1.2 million of expense associated with the 2011 acquisitions. A reconciliation of these amounts to revenues and expenses reported in accordance with GAAP is provided at the end of this release.

Other Income and Expense – Other income and expense for the twelve-month period ended December 31, 2011 was a net expense of $86.9 million, which was composed of: (i) $81.2 million of interest expense; (ii) $3.1 million to write-off deferred financing costs associated with the termination of the Company’s 2010 credit facility; and (iii) $2.7 million of amortized deferred financing costs.

Funds From Operations – For the twelve-month period ended December 31, 2011, reportable FFO available to common stockholders was $172.5 million, or $1.69 per common share on 102 million weighted-average common shares outstanding, compared to $134.1 million, or $1.42 per common share on 94 million weighted-average common shares outstanding, for the same period in 2010.

The $172.5 million of FFO for the twelve-month period ended December 31, 2011 includes the impact of: (i) $6.4 million in provision for uncollectible accounts and notes receivable; (ii) $6.0 million of non-cash stock-based compensation expense; (iii) $3.5 million in non-cash preferred stock redemption charges; (iv) $3.1 million to write-off deferred financing costs associated with the termination of the Company’s 2010 credit facility; (v) $1.2 million of 2011 acquisition related expenses; and (vi) a $0.6 million net loss associated with the run-off of owned and operated assets.

3 of 16

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs